Coin overview
SCR
Ended--
Last price (USDT)
84.93K
24h total (USDT)
2.05M
Total vol (USDT)
2024-09-20 09:00:00 ~ 2024-10-22 07:30:00
Trading time (UTC+0)
2024-10-22 12:00:00
Delivery time (UTC+0)
Total supply1.00B
Resources
Introduction
Scroll is a Layer 2 rollup solution using zero knowledge proof technology to scale the Ethereum blockchain, with a mission to bring billions of users into Ethereum’s ecosystem, be the most secure and trusted Layer 2 network to process trillions of dollars on-chain and the default place for new innovations. SCR Total supply: 1,000,000,000
Why Is Everyone in Ethereum Talking About TEEs?
From paragraph by Jason Chaskin If you haven’t been closely following Ethereum research, it might seem like Trusted Execution Environments (TEEs) appeared out of nowhere. But on the infrastructure side, they’ve been in development for over two years. Flashbots first proposed TEEs in December 2022 to democratize MEV access and improve censorship resistance in The Future of MEV is SUAVE . After years of research, they launched BuilderNet to put that vision into practice. While researching TEEs for MEV, Flashbots saw their broader potential in Ethereum, leading to Rollup-Boost , a TEE-powered sidecar that enables rollups to innovate on their VMs while maintaining compatibility with existing frameworks. Other L2 teams are also integrating TEEs. Taiko uses them as a primary proof in its bridge, while Scroll is adding a TEE-based proof to its multi-prover system. The idea of using TEEs in bridge proof systems didn’t come out of nowhere either. The same month Flashbots published their post, Justin Drake explored TEEs as a “2FA” mechanism for rollups in an ethresear.ch post . This piece will cover what TEEs are, how they work, and their growing role in Ethereum infrastructure. TEEs provide secure, hardware-based computing by isolating code and data while allowing external verification of integrity. They evolved from earlier trust models that relied on operating systems and virtual machines for isolation. TEEs come in different forms: iPhone’s Secure Enclave handles cryptographic tasks, Intel SGX enables secure enclaves for applications handling sensitive data, and Intel TDX extends this model to protect entire virtual machines. While they provide stronger security guarantees than trusting a centralized operator, especially in cloud environments, they are closed-source and require trust in the manufacturer. This typically creates a 1-of-1 trust model, where a hardware compromise can break security, though the degree of trust required depends on the implementation. TEEs are also vulnerable to side-channel attacks, physical tampering, and supply chain risks, making careful evaluation essential for each use case. Mint my infographic on Highlight :) TEEs are not a perfect solution, but in the right cases, their benefits outweigh the risks, especially when failures default to the existing system. The push for secure hardware extends beyond crypto, with OpenAI advocating for improved TEEs and Apple developing a hardware-based private cloud . Just as Ethereum works to reduce trust assumptions, Flashbots is doing the same for TEEs. They have published research on why this approach is worth exploring and how to build trustless supply chains . If you are a hardware security expert, reach out to Flashbots to contribute. MEV exists as a consequence of network design, where those who provide the service of adding new blocks, initially miners, were in a position to influence transaction order for profit. Left unchecked, this would lead to centralization, with validators that are dominant at extracting MEV gaining outsized influence. To prevent this, Flashbots set out to democratize MEV extraction.A key driver of MEV is that validators operating in low-latency environments can observe pending transactions and reorder them and/or add new transactions for profit. One way to limit MEV extraction is by making transaction details private. This requires a privacy tool, but zk-SNARKs and other cryptographic techniques, while promising, are too slow, inflexible for real-time block building, or not production-ready. With software solutions falling short, Flashbots turned to TEEs. Flashbots first used Intel’s SGX to build blocks in March 2023 and later expanded to both build and search in Intel’s TDX. TEEs bring privacy benefits by allowing orderflow to be selectively private. For example, a transaction can reveal that a user wants to swap USDC for ETH without disclosing their identity or trade size. This prevents sandwiching while still allowing backrunning arbitrage. TEEs enable verifiable block construction on private transactions, ensuring efficient block building without compromising user privacy. PBS prevented validator centralization, but today, just two builders produce 92% of Ethereum blocks , reducing censorship resistance and liveness. To fix this, Flashbots launched BuilderNet in November 2024, with Beaverbuild, Flashbots, and Nethermind as the first participants. BuilderNet allows multiple operators to share orderflow and build blocks collectively, shifting MEV away from exclusive deals and making block building more open and decentralized. Beaverbuild’s participation is particularly notable since they are currently the largest builder and have spent years sourcing exclusive orderflow deals. Their decision to join BuilderNet signals a shift away from private MEV agreements toward a more transparent and competitive market. While it may seem surprising that a dominant builder would give up its edge, the economics of exclusive orderflow are less lucrative than they appear. Providers often negotiate high refund percentages, keeping 90-95% of the MEV value, leaving builders with thin margins. Additionally, Beaverbuild’s team originally started as searchers, and running a builder was primarily a way to maximize their own orderflow. With BuilderNet’s transparent refund system, they no longer need to vertically integrate to extract value, allowing them to return to their strengths as searchers. Beyond financial incentives, they also see this as the right move for Ethereum’s long-term health, preferring to contribute to a positive-sum ecosystem rather than competing over exclusive orderflow deals. However, as of today, Beaverbuild is still operating its centralized setup in parallel with BuilderNet, with all of its orderflow currently going to the former. This isn’t a departure from the plan but a staged transition. Blocks built by Builder on January 20th, 2025 I asked Shea Ketsdever from Flashbots about this, and she said they are working closely with Beaverbuild to benchmark performance and run tests to ensure a smooth transition, with expectations for orderflow to shift over to BuilderNet in Q1 2025. Something to keep an eye on. TEEs make this possible by ensuring MEV is redistributed transparently and allowing untrusted builders to collaborate without any one party gaining an advantage. Each operator runs an open-source builder inside a TEE, encrypting and fairly processing all orderflow. Unlike today’s fragmented system, BuilderNet ensures no builder has privileged access, making it trustless and verifiable. This shifts MEV capture from private agreements to an open system where wallets, apps, and searchers receive fair refunds. Even searchers who typically keep orderflow private are incentivized to use BuilderNet for transparent payouts. Currently, a single operator submits the final block, similar to MEV-Boost relays, but future upgrades will allow multiple operators to collaborate on block construction, making MEV extraction more decentralized and equitable. For more on BuilderNet, Robert has discussed it on the Uncommon Core and Infinite Jungle podcasts. Flashbots is also using TEEs in Rollup-Boost , a sidecar system for L2 sequencers that enables faster confirmations, verifiable ordering, and more programmability. TEEs prevent sequencers from manipulating transactions while allowing private mempools and trustless execution. Since Rollup-Boost is a sidecar, rollups can retain their existing frameworks like the OP Stack or ZK Stack while adding new features. This solves a key issue in the rollup-centric roadmap, where most L2s have simply forked Geth and followed L1 upgrades instead of driving real innovation. Rollup-Boost enables experimentation without requiring rollups to maintain a separate client. Uniswap’s upcoming L2, Unichain, will be the first to use Rollup-Boost, launching with Flashblocks and Verifiable Priority Ordering. Flashblocks enables 250ms confirmation times, native revert protection, and increased gas throughput, while Verifiable Priority Ordering allows applications to internalize their MEV. The sidecar processes transactions using extensions before returning finalized blocks to the sequencer for posting on Ethereum L1. Future extensions include Encrypted Mempool, TEE Validity Proofs, and TEE Coprocessing. For more on Rollup-Boost, Robert has also discussed it on Uncommon Core and a different episode of Infinite Jungle . TEEs are being integrated into L2 bridge proof systems to complement ZK proofs, which, while offering strong security, are complex and prone to bugs. Relying on a single prover increases the risk of catastrophic failure if an issue arises. To mitigate this, teams are exploring adding TEE-based proofs as an additional verification layer, reducing the likelihood of invalid states being finalized. TEE and ZK proofs operate independently, ensuring redundancy. If one system encounters a bug or security flaw, the other can provide a fallback, preventing invalid state transitions from being finalized. In such cases, the security council can intervene before the issue escalates. Scroll, in collaboration with Automata, has developed an open-source SGX-based TEE prover , already used to validate testnet blocks. Scroll’s next steps include integrating the dual-proof system, implementing dispute resolution mechanisms, and forming a TEE prover committee. As part of this process, Scroll is exploring ways to further decentralize TEE attestation, similar to Ethereum’s Distributed Validator Technology, ensuring no single hardware manufacturer becomes a central point of trust. Taiko uses a tiered proof system . Initially, TEEs provide fast validation by running a lightweight execution client that verifies state transitions and signs results with ECDSA for onchain validation. During a cooldown period, ZK proofs can challenge TEE proofs. To ensure correctness, provers must stake a bond, which is forfeited if their proof is invalid. While a centralized fallback exists for security in the early stages, Taiko plans to phase it out and transition fully to ZK-based verification. TEE proofs enable this multi-proof system by providing an additional security layer while zkEVMs are still maturing. They offer a fast, cost-effective way to validate state transitions without fully relying on ZK proofs, ensuring that even if a ZK prover fails, the system maintains security and liveness. TEEs are rapidly becoming a key part of Ethereum’s infrastructure, addressing security, privacy, and decentralization challenges across MEV, rollups, and bridges. As these systems mature, they could redefine Ethereum’s trust model while bridging the gap until cryptographic solutions fully scale.
From VC coins to the meme craze, everyone is already "aesthetically fatigued."The People are Tired (of losing)
The People are Tired (of losing) Author: francescoweb3, Head of Castle Labs Compiled by: zhouzhou, BlockBeats Editor's Note: This article deeply explores the changes in the crypto market, particularly the fatigue felt by retail users. It is not difficult to see the shift from a venture capital-led market to a meme coin craze starting in early 2024. While meme coins once provided a fairer opportunity for retail, they ultimately became overly speculative, leading to a deterioration in market conditions. Retail users are tired of losses, and the market has become fast-paced and competitive, emphasizing the importance of finding a new balance and calling for more attention to projects with real applications and fair distribution mechanisms. The following is the original content (reorganized for readability): As Kaitoai emphasized, in the last two weeks of January 2025, the mention of the word "tired" increased on crypto Twitter. This cycle is different from others, more challenging, and even surprises traders who have experienced two or three cycles. The market is changing: the speed of narrative shifts is faster, and attention has become the scarcest currency. Last but not least, increasing regulatory scrutiny and political intervention in the crypto space have introduced new variables. Why do people feel tired? Retail investors have missed opportunities for too long; every time it seems the goal is within reach, the market dynamics change faster than before. In the 2021 cycle, we saw venture capitalists achieve exponential returns compared to retail investors who had no access to private investment opportunities. This continued until around 2023, when projects like TIA and DYM emerged, marking the end of retail investors' disillusionment with these venture capital extraction techniques. What might be the most rational consequence of this? A movement seeking to change the power dynamics. The long-known narrative of "meme coins" gained increasing attention as venture capitalists no longer had private chips to sell to ignorant buyers in the market. This was beneficial for retail investors, who managed to find a fair competitive environment. Until the narrative became overly exaggerated and saturated, further shortening users' attention spans. Let’s look at how the market landscape has evolved and where we might be heading, attempting to explain why people feel tired. Phase One (Early 2024) - From VC Coins to Meme Coins It almost feels like a long time ago, before the AI craze and meme coin frenzy, there was a period when the mainstream play for retail investors was airdrops. This play was initiated by Arbitrum and other Layer 2 airdrops. Retail users saw the potential of airdrops by trying new protocols and chains, turning airdrops into a business, with companies offering airdrop-as-a-service. However, dreams turned into nightmares when these coins began to release and disclose their tokenomics, leaving users very disappointed: all the efforts resulted in almost nothing airdropped? One of the most controversial releases was Scroll, a ZK-EVM L2. After over a year of ecosystem promotion, Scroll's airdrop was disappointing, raising questions about why 5.5% of the SCR supply was allocated to Binance instead of the community. Moreover, the circulating supply of most of these tokens was very low (circulating supply / total supply), with a large portion allocated to VCs. Another topic of discussion is TIA and DYM, which at one point had narratives on crypto Twitter revolving around staking them in exchange for expectations of future ecosystem project airdrops. You guessed it: those airdrops never happened, and the price trends of the tokens only went down (below is the chart for DYM). Here’s an overview of the different rounds and investor unlocks for TIA: In the first unlock, over 97.5% of TIA's circulating supply was unlocked, valued at over $1.88, with daily unlock amounts reaching $10 million. Ultimately, retail investors grew tired of these types of tokens, meaning that the issuance price of most tokens only fell and eventually even dropped below their last financing valuation. This is evident when we look at the dashboard provided below: This dashboard considers the investment returns of each VC's best-performing investments in the data sample. Returns from venture capital in the previous cycle: Returns from venture capital in this cycle: The end of the venture capital era is so evident that even Hayes accurately pointed this out in his December 2024 article, where retail investors saw a glimmer of hope at the end of the dark tunnel: meme coins. Tired of the venture capital-led schemes, retail investors finally had the chance to enter the permissionless market that blockchain was supposed to open up for them. This must be the direction of the future, right? Phase Two - The Meme Coin Craze After the end of the venture capital era, users had to find new plays, and they discovered this through muststopmurad and his "meme coin super cycle." For retail investors, meme coins seemed to be the closest thing to having equal opportunities in the market—until they no longer were. Prices soared, Trump was elected, and we were going to the moon. But suddenly, the liquidity plug was pulled, market attention shifted elsewhere, and all your meme coins crashed during the market correction. Meanwhile, all the insiders who had early opportunities to position themselves also had the chance to sell their chips. Perhaps the situation retail investors ultimately faced was even worse than what they experienced with VC coins. What is left now? A greater inclination towards risk, further shortening attention spans, liquidity being further dispersed, while trying to understand past mistakes through more gambling disguised as "trading." Pumpfun is just a symptom of the direction the market is heading. jediBlocmates highlighted the net negative issues in this ecosystem. Among the mentioned reasons, the Pump.Fun team continuously transferred large amounts of fees out. Just last month, they transferred over 880,877 SOL to Kraken, totaling $211,410,480. The impact of meme coins and the Pump.Fun craze is evident in the market changes they brought: rapid narrative shifts, an environment that feels player-to-player, and people no longer trusting anything. Phase Three - Market Trauma PTSD: People Feel Tired After being let down by venture capitalists, users now carry the trauma of the Pump.Fun arena, hoping their next 100x return can make up for previous losses. The market has now changed forever, and the new plays reflect this change. Market rotations are shorter and faster; in previous cycles, you could hold positions overnight and hold tokens for weeks, but now you can hold them for at most a few days or hours. New projects siphon off all liquidity: attention is scarce, and everyone is playing the same game. The influence of politics and regulation is increasing: this is particularly evident in the launch of TRUMP, highlighting how external events can have unprecedented impacts on the market. Unfortunately, once again, retail investors have lost their way in this game, with many tokens becoming like the capital extraction mechanisms they are already very familiar with. In contrast to this trend, the launch of Hyperliquidx has drawn attention to community-led airdrops and distributions. Over 31% of the airdrop was allocated to the community, and the token price has increased more than 7 times since its release, proving that fair distribution can be achieved. Nevertheless, it must be noted that not every project can replicate this model, as teams like Hyperliquid have incurred tens of millions in expenses over a long period. Importantly, the launch of Hyperliquid has brought a paradigm shift within the industry. Coupled with Kaito's release, the approach to project launch strategies has also changed. Where Does This Leave Us? These stages highlight two extremes: The power held by venture capitalists is too great: retail investors cannot participate in private rounds and can only act as exit liquidity. Unrestricted meme coin acquisition has led to a player-to-player market, worsening overall market conditions. Both have the same consequence: dissatisfaction among retail investors and a demand for balance and stability. We leave some possible thoughts to consider what the future might look like: a return to practicality, reducing focus on meme coins, and paying more attention to practical projects. Reducing the focus on value extraction, paying more attention to value creation, and avoiding zero-sum games. A return to fair distribution, inspired by Hyperliquid. A complete transformation in protocol marketing and token release methods, utilizing tools like Kaito for marketing and growth activities, and valuing the influence of social graphs and communities. While we all know that price is the best marketing tool and has always been a key factor in attracting smart talent and liquidity, it would be a pity to remain focused on value extraction as a supportive regulatory environment is on the horizon. The growth cycles of emerging markets are often filled with roller-coaster-like ups and downs, but it is crucial to have an ultimate goal and outline a feasible path for the majority. That is, to build something truly valuable.
From VC Coins to the Meme Craze, the Cryptocurrency Market is Exhausted
Original Title: The People are Tired (of losing) Original Author: francescoweb3, Head of castle labs Original Translation: zhouzhou, BlockBeats Editor's Note: This article delves deep into the changes in the crypto market, especially the fatigue experienced by retail users. It is easy to see the shift from a venture capitalist-dominated market at the beginning of 2024 to the meme coin frenzy. While meme coins initially provided retail investors with a more level playing field, they eventually became overly speculative, leading to a deteriorating market condition. Retail users are feeling tired due to losses, and the market has become fast-paced and competitive, emphasizing the importance of finding a new balance point and calling for more attention to projects with practical applications and fair distribution mechanisms. The following is the original content (slightly reorganized for better comprehension): As Kaitoai emphasized, in the last two weeks of January 2025, the word "tired" saw an uptick in mentions on Crypto Twitter. This cycle is different from others, more challenging, and even surprising traders who have been through two or three cycles before. The market is changing: the narrative shifts faster, and attention has become the scarcest currency. Last but equally important, there is increasing regulatory scrutiny and political intervention in the crypto space, bringing new variables. Why Are People Feeling Fatigued? Retail investors have missed out on too many opportunities, with the market dynamics changing faster each time what seems like the goal is within reach. In the 2021 cycle, we saw venture capitalists achieve exponential returns compared to retail investors without access to private investment opportunities. All of this continued until around 2023 when projects like TIA and DYM were launched, signaling the end of retail investors' disillusionment with the technology being siphoned off to these venture capitalists. What could be the most rational consequence of this? A movement seeking to change power dynamics. The long-standing "Meme Coin" narrative gained more attention as venture capitalists no longer had private chips to dump on ignorant buyers in the market, benefiting retail investors who managed to find a level competitive environment. However, as the narrative became overplayed and saturated, the users' attention span further shortened. Let's look at how the market landscape has evolved and where we might be heading, attempting to explain why people are feeling fatigued. Phase One (Early 2024) - From VC Coin to Meme Coin It seems like a long time ago now, before the AI craze and the meme coin frenzy, there was a time when airdrops were the mainstream play for retail investors. This play was kick-started by Arbitrum and other Layer 2 airdrops. Retail users saw the potential of receiving airdrops by engaging with new protocols and chains, turning airdrops into a business, with the emergence of companies offering airdrop-as-a-service, and more. However, the dream turned into a nightmare as these coins started to release and disclose their tokenomics, leaving users very disappointed: all that effort, and what was received through airdrops was almost nothing? One of the most controversial distributions was Scroll, which is a ZK-EVM L2. After over a year of ecosystem promotion, the Scroll airdrop was very disappointing, with a concerning 5.5% of the SCR supply allocated to Binance instead of the community. Furthermore, most of these tokens had very low circulating supplies (circulating supply/total supply), with a significant share allocated to VCs. Another topic of discussion was TIA and DYM, where at one point, these tokens' narratives on Crypto Twitter revolved around staking them in exchange for the expectation of future ecosystem project airdrops. You guessed it: these airdrops never materialized, and the token prices only trended downwards (below is DYM's chart). Here is an overview of the different rounds and investor unlocks for TIA: In the initial unlock, over 97.5% of TIA's circulating supply was unlocked, valued at over $1.88, with a daily unlocking rate of 10 million dollars. Ultimately, retail investors grew weary of these types of tokens, which meant that most tokens' issuance prices only saw a decline, eventually even dropping below their last fundraising round valuation. This point becomes evident as we examine the dashboard provided below: This dashboard considers the investment return of each VC's top-performing data-sample. Venture capital returns from the previous cycle: Venture capital returns from this cycle: The end of the venture capital era was so apparent that even Hayes accurately pointed it out in his December 2024 article, at the end of the dark tunnel, retail investors saw a glimmer of hope: meme coins. Tired of the venture capital-dominated conspiracy, retail investors could finally enter the permissionless market the blockchain was supposed to open up to. That must be the way of the future, right? Phase Two - The Meme Coin Craze After the end of the venture capital era, users had to find a new play, and they discovered it through muststopmurad and his "meme coin supercycle." For retail investors, meme coins seemed to be the closest thing to having an equal opportunity in the market—until they were no longer. Prices soared, Trump was elected, and we were going to the moon. But suddenly, the liquidity rug was pulled, and the market's attention shifted elsewhere, causing all your meme coins to collapse during market pullback. Meanwhile, all the early insiders who had the opportunity to get in early also had the chance to offload their chips. Perhaps the situation retail investors ultimately faced was even worse than what they experienced with VC coins. What remains now? A growing inclination towards risk-taking, a further shortening of attention spans, increased liquidity dispersion, all the while trying to understand past mistakes through more gambling disguised as "trades". Pumpfun is just a symptom of the market's direction. jediBlocmates highlighted the net negative issues in this ecosystem. Among the reasons mentioned, the Pump.Fun team continues to move substantial amounts of fees out. In just last month, they moved over 880,877 SOL to Kraken, totaling 211,410,480. The impact of meme coins and the Pump.Fun frenzy is evident in the market changes they bring: rapid narrative shifts, an environment resembling player versus player, and a lack of trust in anything anymore. Phase Three - Post-Traumatic Market PTSD: People Feel Exhausted Lost in the venture capital-risked risk investors, users now carry the trauma of the Pump.Fun arena, hoping their next 100x gains will make up for previous losses. The market has now permanently changed, and the new gameplay is a reflection of this change. Market rotations are even more fleeting and rapid, where in previous cycles, you could hold a position overnight, hold tokens for weeks, and now, at most, you can only hold for days or hours. New projects siphon all liquidity: attention is scarce, everyone is playing the same game. The influence of politics and regulations continues to grow: this was particularly evident in TRUMP's launch, highlighting how external events can have an unprecedented impact on the market. Unfortunately, once again, retail investors have lost their way in this game, with many tokens becoming like the capital extraction mechanisms they have become all too familiar with. In contrast to this trend, the launch of Hyperliquidx has drawn attention to community-led airdrops and issuance. Over 31% of the airdrop was allocated to the community, and the token price has risen by over 7 times since launch, proving that fair distribution is achievable. Nevertheless, it must be considered that not every project can replicate this model, as sustaining a project like Hyperliquid over a long period has already incurred tens of millions in massive expenses for the team. Importantly, the launch of Hyperliquid has brought about a paradigm shift in the industry. Coupled with Kaito's release, the project's approach to launch strategy has also changed. Where Does This Put Us? These stages under consideration highlight two extremes: 1. Overwhelming power in the hands of venture capitalists: Retail investors cannot participate in private rounds and can only act as exit liquidity. 2. Unrestricted meme coin acquisition has led to a player-to-player market, deteriorating overall market conditions. Both of these have the same consequences: retail investor dissatisfaction and a demand for balance and stability. We leave some possible avenues to explore what the future might look like: a return to utility, reducing focus on meme coins, and more emphasis on practical projects. Reducing the focus on value extraction, emphasizing value creation more, and avoiding zero-sum games. Returning to fair distribution, inspired by Hyperliquid. A fresh transformation in protocol marketing and token launch methods, leveraging tools like Kaito for marketing, growth activities, and valuing the influence of social graphs and communities. While we all know that price is the best marketing tool and has always been a key factor in attracting talent and liquidity, it would be a great loss if, amid an impending supportive regulatory environment, the focus remains solely on value extraction. The growth cycle of emerging markets is often full of roller-coaster-like fluctuations, but it is crucial to have a final goal and outline a viable path for the majority. That is, building something truly valuable. 「Original Tweet」
Chainlink’s Data Streams go live on Scroll mainnet
Chainlink’s standard for verifiable data has officially launched on Scroll, a zero-knowledge-proof-powered scaling solution on Ethereum. The decentralized oracle platform announced the integratio on Jan. 29, noting Data Streams were now live on Scroll ( SCR ) mainnet. Chainlink ( LINK ) now provides developers on the zkEVM platform access to its low-latency market data. With Chainlink Data Streams live, developers on Scroll can leverage a solution that combines low latency and automated execution to build next-generation decentralized finance applications. These DeFi apps will benefit from features such as faster transaction settlement, lower fees, and advanced blockchain functionality. “Chainlink Data Streams enable Scroll developers to build high-performance dApps underpinned by Chainlink’s decentralized, credibly neutral infrastructure. This provides developers with the tools to unlock new possibilities in DeFi innovation, as we continue to build the Open Economy,” Raza Zaidi, head of growth at Scroll, said in a statement. Scroll joined the Chainlink Scale program in August 2023, partnering with Chainlink to accelerate ecosystem growth. The collaboration enabled the rollup solution’s ecosystem of developers to access expert technical support and other services on the leading oracle network. Leveraging Chainlink’s DeFi oracle infrastructure offers more than just faster transaction settlement and unmatched security. It allows developers to create DeFi apps with a better user experience, comparable to what users expect from traditional finance platforms and centralized exchanges. Scroll launched its mainnet in October 2023, following two years of development. The project has since partnered with Ether.fi, Alchemy Pay, and Nansen, among other industry players, as part of its strategy to drive growth.
Consumer Public Chain Morph Reaches $2.18 Million in Volume in Last 24 Hours, Ranks 11th in Rollup
On January 8, 2011, according to the data, Morph, a consumer-grade public chain, reached $2.18 million in transaction volume in the past 24 hours, surpassing metis/fuel, and ranked 11th in the rollup, only behind opBNB. Morph surpassed Scroll in the number of daily transactions, reaching 180,000 transactions.
IOTA News: The Biggest Upgrade in IOTA’s History Coming in 2025
A crypto researcher disclosed that IOTA could launch its biggest upgrade (Rebased Protocol) in 2025. He also labeled IOTA as a “hidden gem” while pointing out the “race” to invest in non-ISO coins. IOTA (IOTA) has been sluggish in the recent broad market bear run, declining by 10% in the last seven days and 4% in the last 24 hours. Meanwhile, crypto researcher SMQKE believes that the IOTA team has been quietly building with a focus on smart contracts, prototype launching, and testing critical advancements. According to him, the team has been laying the foundation for its biggest upgrade in history in 2025. Fascinatingly, our review of an attached document discloses that the researcher was referring to the IOTA Rebased. ‼️MAJOR IOTA UPGRADE SET FOR 2025‼️During the bear market, IOTA has been quietly building, focusing on smart contracts, prototype launches, and testing critical advancements.🎯 While most overlooked it, this token has been laying the groundwork for significant growth.😶🌫️ The… https://t.co/WFE89AfHsz pic.twitter.com/mHIWJCkOsH — SMQKE (@SMQKEDQG) December 9, 2024 What is IOTA Rebased The IOTA Rebased Protocol is a groundbreaking upgrade set to improve the scalability, programmability, and decentralization of the network. According to our earlier report , this protocol will be built on an existing architecture and introduce a new range of features to improve performance. Additionally, the protocol would integrate MoveVM, which the Mysten Labs originally developed for the Sui Network. Fascinatingly, this would unlock programmability at the Layer 1 level. Analyzing a blog post by IOTA, we discovered that this implementation would also increase the transaction speed processing model to 50,000 Transactions Per Second while improving the finalization time to less than a second. According to the report, the smart contract team is working with the IOTA 2.0 core team to streamline the requirements and specifications to integrate the MoveEVM. Their initial assessment concluded that, while technically feasible, implementing MoveVM into IOTA 2.0 would be a multi-year effort to deliver a safe and tested protocol to the mainnet. Moreover, this approach would require two consecutive breaking protocol changes: first for IOTA 2.0, and later for the L1 Move upgrade. More About the Protocol In 2025, the mainnet launch of the protocol will be done. However, the team discloses that four main conditions should be met before the transition. There should be at least a two-month testnet phase, which includes a comprehensive stress test. Readiness review of all validators on the testnet. Security audit during the testnet phase should be completed. Major exchanges should integrate the IOTA Rebased. Meanwhile, as we earlier disclosed , the community has already approved the initiative through a governance vote, with 98% of the voters favoring the motion. We are happy to announce that the recent governance proposal to upgrade IOTA to the Rebased protocol has received a large majority of positive votes. IOTA token holders have voted in favor of what we believe to be the most important upgrade in IOTA’s long history. Scroll to the end of this blog post for a full breakdown of the vote results. In a separate post, SMQKE stated that IOTA is the most underrated ISO 20022 token. He believes this is probably due to the lack of right information. He also called investors out for “chasing” non-ISO coins while ignoring “hidden gems” like IOTA. Recommended for you: Buy IOTA Guide IOTA Wallet Tutorial Check 24-hour MIOTA Price More IOTA News What is IOTA?
Ethereum Leads the Pack: Top 15 Blockchains by Revenue in 2024
Ethereum is at the top spot for the highest revenue-making network. The Phoenix Group submitted a report on December 27, 2024, which displayed the fifteen leading blockchains by earnings, demonstrating Ethereum’s supremacy in this sphere, having $2B in revenue. TOP 15 BLOCKCHAINS BY REVENUE FOR THE LAST YEAR#Ethereum #Tron #Solana #Base #Linea #Arbitrum #BNBChain #Avalanche #Ton #Injective #Scroll #Blast #Optimism #Near #StarkNet pic.twitter.com/NM6zj0NcOR — PHOENIX – Crypto News Analytics (@pnxgrp) December 27, 2024 Ethereum Dominates with $2 Billion Revenue Not surprisingly, Ethereum remains at the top and, in the past year, has earned a breathtaking $2 billion. From decentralized finance (DeFi) to non-fungible tokens (NFTs), Ethereum has remained the leader of many modern projects. These, coupled with other improvements such as Ethereum 2.0, make it more dominant in the market for even more upgrades. Tron and Solana Lead the Next Tier Established platforms such as Tron and Solana occupy the second and third positions with revenues of $ 567M and $370M, respectively. Stablecoin transfer volume and high TPS make Tron the most popular, while the speed and scalability-centered focus make Solana popular with developers and increasingly popular. Emerging Contenders: Base, Linea, and Arbitrum A number of layer-2 solutions and chains focused on scalability are making headlines. Layer-2 blockchain Base, developed by Coinbase, attracted $77.4 million for its powerful start in the saturated blockchain market. Zk-Rollup Linea by ConsenSys raised $26.5 million, showing rising interest in the technology that uses zero-knowledge proof. Another well-known layer-2 solution, Arbitrum, boasted revenues of $22.3 million, mainly due to solid DeFi performance. BNB Chain and Avalanche: Solid Performers Major players such as BNB Chain and Avalanche remain steady in their performance, bringing in $19.2 million and $17 million, respectively. BNB Chain, supported by Binance, is still one of the favorite destinations for building dApps, while Avalanche gets more and more attractive with its subnet design. Ton, Injective, and Scroll Gain Momentum For the mid-tier revenue category, the top gainer is Ton at $14.5 million, followed by Injective at $14.1 million, and Scroll at $13.7 million. Ton, earlier tied to Telegram, is now in the process of finding its place within Web3 communication platforms. Due to the emphasis on applications of Decentralised Finance, traders have found Injective to be one of their choices. On the other hand, Scroll, a zk-rollup based on Ethereum, can be seen as the growth of layer-2 solutions. Blast, Optimism, Near, and StarkNet Round Out the List Completing the list of top fifteen projects are Blast, which has raised $12.3 million; Optimism, with $12.2 million; Near, with $7.4 million; and StarkNet, which has made $6.5 million. Blast, which is known to be associated with high-speed transactions, has been slowly making a name for itself among the developers. The constant rise of Optimism as one Ethereum scaling solution shows how important its role is in reducing transaction charges. Near’s simple and decentralized UI and StarkNet as zk-rollup evidence the growth of the role of both in the sphere of the blockchain. The Blockchain Industry in 2024: A Competitive Landscape The current year’s revenue rankings show the industry’s challenging and constantly shifting environment. Today, Ethereum is arguably the biggest competitor, but the competition is slowly closing due to developments in scalability, usability, and even network growth strategies. This was accompanied by the emergence of new players in the space and changes in established networks, and 2025 looks to bring even more growth and competition.
Scroll announces OpenVM, a new zkVM
This is a segment from the 0xResearch newsletter. To read full editions, subscribe . Today, Scroll, Axiom, developer Max Gillet and the Ethereum Foundation’s Privacy Scaling Explorations (PSE) team are announcing OpenVM, an open-source zkVM framework for instant proving. OpenVM will be adopted by the Scroll L2 as its zkVM, and plans to validate mainnet blocks in coming months. This transitions Scroll from a currently Type-3 to a Type-1 zkEVM — the most fully Ethereum-equivalent zkEVM type. Scroll’s upgrade to a Stage-1 rollup with a fully functioning proof system will follow soon thereafter. Newsletter Subscribe to Blockworks Daily Subscribe According to a press release, Scroll’s decision to design a new zkVM from the ground up was driven by a belief that many existing zkVM solutions were “monolithic” and “locking developers into vertically integrated stacks.” OpenVM’s open-source and modular architecture would enable Scroll to introduce features without making changes to the underlying circuit, and developers to benefit from zkVM improvements without having to modify application code. The state of ZK OpenVM joins a market already crowded with zkVMs. Unlike traditional virtual machines, zkVMs are designed to compile and execute smart contracts into zero-knowledge proofs in a secure and private way that does not reveal underlying data. Today, the zkVM market carries at least a dozen different zkVMs, such as RISC Zero “ RISC0 ” and Succinct’s “ SP1 .” Source: Electric Capital As seen in the below chart, proofs submitted to Ethereum mainnet saw a peak in December 2023, largely coming from zk rollups like Linea, ZKsync and Scroll, rather than applications. Proof volumes saw a drop in 2024, largely due to two factors. One, proof generation has been increasingly batched using recursive proof aggregation — a technique that verifies multiple proofs within one proof — to reduce costs. Souce: zkstats.io Second, proof verification is getting more efficient, so costs are steeply declining from just a year ago. Prover networks like Risc Zero’s “Boundless” and Fermah have also helped apps and rollups to bring zk-proving costs down. These networks allow teams to outsource proof generation to specialized hardware providers with ASICs and GPUs that compete to generate zk proofs cheaply. Based on Electric Capital’s recent developer report , there are 2,054 monthly active developers working in zk. The use of zk has seen tremendous growth, with zk contract deployments growing from 40 to 639 today over the last four years. Start your day with top crypto insights from David Canellis and Katherine Ross. Subscribe to the Empire newsletter . Explore the growing intersection between crypto, macroeconomics, policy and finance with Ben Strack, Casey Wagner and Felix Jauvin. Subscribe to the Forward Guidance newsletter . Get alpha directly in your inbox with the 0xResearch newsletter — market highlights, charts, degen trade ideas, governance updates, and more. The Lightspeed newsletter is all things Solana, in your inbox, every day. Subscribe to daily Solana news from Jack Kubinec and Jeff Albus. Tags 0xResearch Newsletter Scroll zero-knowledge rollup zkEVM
Bitget's pre-market trading volume has exceeded 50 million US dollars
Bitget launched an innovative product "Pre-market Trading" in April this year, with Merlin Coin (MERL) as the first project. Up to now, Bitget's pre-market trading has listed 50 tokens, including popular tokens such as Movement (MOVE), Scroll (SCR), and Orderly Network (ORDER), with a total transaction volume exceeding 50 million US dollars. Bitget's pre-market trading is an over-the-counter trading platform that provides a pre-trading market before new coins officially go live. It promotes peer-to-peer transactions between buyers and sellers, allowing them to set quotes and match trades, completing delivery at a mutually agreed time.
SCR rises over 16% in 24 hours, currently reported at 1.108 USD
BlockBeats news, December 10, market data, SCR rose over 16% in 24 hours, currently reported at $1.108.
Key Market Insights Discrepancy on December 4th - A Must-Read! | Alpha Morning Report
Featured News 1. Trump Administration May Open IPO Market to Cryptocurrency Companies 2. Coinbase Launches Solana-Based Meme Coin MOODENG 3. Rise in Tron Ecosystem Tokens, TRX Surges Over 77% in 24 Hours 4. South Korea's Presidential Chief of Staff and Secretary-General Resign Together 5. South Korea's Martial Law Headquarters Issues First Martial Law Order Articles Threads 1. "How Did 'Zombie Coins' Suddenly Make a Comeback?" By Ray's New World The Ethereum ecosystem just experienced a turnaround in the past two days, but things are not peaceful within the Ethereum community. A feud broke out between Scroll, a zkRollup project, and Movement, a team that just completed a testnet and announced an airdrop, with Scroll accusing Movement of code plagiarism. In response, Movement claimed that the Scroll team acted improperly, damaging the Layer 2 ecosystem's reputation single-handedly. Currently, official members of the Scroll team have not provided a formal response. 2. "SEC Chair Appointment Delayed, Related Concept Tokens See 50% Intraday Volatility" shushu, BlockBeats From on-chain data, ZKasino is not "insolvent" but blatantly chooses to "profit from user assets." Every step of ZKasino's operation is extracting trust and assets from users, completely deviating from the original intention of decentralization and transparency. The ZKasino team uses user funds to profit from high-risk operations, turning a deaf ear to the issue of returning user funds, which is undoubtedly a secondary harm to the victims. 24H Top Projects (‼️High Rug Risk‼️) Daily new projects or community attention updates, sorted and ranked by X Alpha account follow count and growth Data Source: getmoni.io BlockBeats Note: The following are early-stage projects with relatively few followers, highly susceptible to Rug and contract risks. Participation should be cautious, and this is not investment advice. 1. Orbit (@orbitcryptoai) Creating an AI agent for the abstraction chain 2. stHYPE (@stakedHYPE) Primary staking liquidity solution for the Hyperliquid network 3. OnlyDate (@onlydatefun) The OnlyDate protocol is a platform where users can interact with an AI-driven female agent Market Data Daily overall market capitalization heat (reflected by funding rates) and token unlocks Data Source: Coinglass, TokenUnlocks Funding Rate Token Unlocks
Scroll refutes allegations of ‘predatory’ airdrop
Scroll’s co-founder rebutted claims the Ethereum layer-2 network orchestrated a “predatory” token launch in October, dismissing the allegations as “wild” in a Nov. 28 post on the X platform. Sandy Peng, Scroll’s co-founder and CEO, said Scroll has “been reflecting on community feedback” and is “working on addressing this with Session 2,” Scroll’s planned follow-on airdrop announced in October. Additionally, Scroll is “restructuring to align with our next phase of development,” and “[s]ome team members are moving on,” Peng said. Source: Sandy Peng Related: Ethereum layer 2 Scroll tips native token launch On Oct. 22, Scroll launched its native token, SCR, in a controversial airdrop marred by accusations of token dumping by members of the network’s core team. The token’s price dropped 32% on the first day of trading after Scroll granted large SCR allocations to a handful of whale wallets, upsetting some airdrop participants. In a Nov. 27 X post , Rushi Manche, co-founder of rival blockchain developer Movement Labs, described Scroll as “probably one of the worst actors in the space” and claimed Scroll “literally airdropped to [team members’] wallets and dumped.” On Nov. 28, Peng said Scroll allocated a “negligible” amount of Marks — or points used to set airdrop allocations — to its own wallets and mainly used SCR allocations to seed decentralized exchanges (DEXs) with trading liquidity. “In hindsight, removing Marks for clarity would’ve been better. Lesson learned,” Peng said. The SCR token will be “a primary governance mechanism of the protocol and progress to being a protocol utility token as Scroll becomes more decentralized,” Scroll said in October . The token’s total supply is 1 billion SCR, with 15% pegged for airdrops, 35% for ecosystem growth and 17% for investors. The rest will go to the Scroll Foundation (10%) and contributors (23%). Scroll is a zero-knowledge (ZK) rollup competing against layer 2s such as ZKsync Era and Starknet. ZK-rollups are expected to eventually supplant optimistic rollups — such as Arbitrum and Base — as Ethereum’s dominant scaling solutions. Compared to optimistic rollups, which often take upward of seven days to finalize transactions, ZK-rollups usually settle within minutes. They face competition from L2s using alternative approaches, such as Movement Labs’ postconfirmations . According to crypto researcher Aylo, the pseudonymous founder of Alpha Please, 23 of the 31 tokens distributed in sizable airdrops have lost value since their first day of listing, sometimes severely . Magazine: Is Bitcoin heading back to $90K? Solana ETFs, and more: Hodler’s Digest, Nov. 17–23
Scroll disputes allegations after SCR token drops 32%
Scroll (CRYPTO:SCR), a layer-2 Ethereum (CRYPTO:ETH) scaling solution, has responded to allegations surrounding its controversial SCR token launch, which saw its price fall 32% on its first trading day. Critics accused Scroll of enabling token dumping through large allocations to whale wallets during its October airdrop. In a November 28 post on X, Scroll co-founder Sandy Peng dismissed these claims as “wild,” emphasising that SCR allocations were primarily used to provide liquidity to decentralised exchanges (DEXs). “Scroll allocated a negligible amount of Marks to its own wallets,” Peng stated, adding that greater clarity could have been provided during the process. “In hindsight, removing Marks for clarity would’ve been better. Lesson learned,” Peng said. The SCR token launch sparked backlash, with Rushi Manche, co-founder of Movement Labs, describing Scroll as “probably one of the worst actors in the space.” Manche alleged that the team “airdropped to [team members’] wallets and dumped.” Despite the controversy, Peng highlighted Scroll’s efforts to restructure its team and reflect on community feedback. The platform has announced Session 2, a follow-up airdrop aimed at addressing user concerns. SCR, designed as both a governance and utility token, has a total supply of 1 billion tokens. Its allocation includes 15% for airdrops, 35% for ecosystem development, and portions for investors, contributors, and the Scroll Foundation. The platform operates as a zero-knowledge (ZK) rollup, competing with networks like ZKsync (CRYPTO:ZK) and Starknet (CRYPTO:STRK), which are positioned to replace optimistic rollups as Ethereum’s leading scaling solutions. The incident sheds light on broader challenges within the cryptocurrency space. According to crypto researcher Aylo, 23 out of 31 significant airdropped tokens have depreciated since their listings, emphasising the need for greater transparency and robust mechanisms in token distribution practices. At the time of reporting, the Scroll price was $0.8172.
Which side should you stand on in the public argument between the two major "VC coins"?
Author: shushu, BlockBeats The Ethereum ecosystem has just experienced a reversal in the past two days, but the Ethereum community is not calm. A former team member of the zkRollup project Scroll has gotten into a dispute with Movement, which just concluded its testnet and announced an airdrop. Scroll accused Movement of code plagiarism, while Movement claimed that Scroll's team acted inappropriately, single-handedly damaging the reputation of the Layer 2 ecosystem. Currently, the official members of the Scroll team have not made a formal response. Why the Direct Confrontation? The spark for the debate ignited in someone else's comment section. @enshriningplebs posted, "We invented the concept of 'postconfirmations' to issue our tokens before going live on the mainnet." @seunlanlege sarcastically replied, "Oh, so only researchers from the Ethereum Foundation can invent objectively meaningless garbage protocols and that’s considered cool? What a double standard." Rushi Manche, co-founder of Movement Labs, then added, "Exactly, only Uniswap and Flashbots are allowed to do this because they align with Ethereum's interests (by the way, I really like their architecture). As for the thousands of popular terms we created for those useless EVM L2s, that’s much more ethical." Then, Toghrul, a former team member of Scroll, directly countered Rushi's sarcastic remarks by saying, "Stop pretending to be so high and mighty, okay?" "Let's talk about those popular terms created by EVM L2s?" He believes that the new term "postconfirmations" is essentially just a rebranding of "preconfirmations," and this renaming was a result of them being mocked for calling themselves "fast finality Rollup." Even more absurdly, they themselves don't even understand whether it's an optimistic Rollup or a sidechain, as these two architectures are inherently contradictory. Toghrul mentioned that he directly pointed out these issues in group discussions, but the response was, "No one uses them, so they can't be considered original," leaving him puzzled. He also stated that Movement's entire codebase is almost a fork from Aptos, with only minimal changes made. In contrast, those so-called "useless EVM L2s" have produced many widely used core technologies, such as Polygon inventing Plonky2 and Arbitrum creating a general fraud proof based on Wasm, while Movement can't even understand basic EVM support. Rushi did not hold back, directly stating, "High and mighty? Are you kidding me?" He then began to list Scroll's offenses one by one. Exploited the community for years, yet launched a predatory incentive plan that ultimately shifted the burden onto ordinary investors. The team has been selling secondary market shares for years before the launch. Other team members were forced to buy in at an $1.8 billion valuation while the top executives were selling at the same time. You even directly allocated airdrop distributions to your own wallets for cashing out. Designed the most predatory token economic model, aimed at harming every community member. To express Rushi's anger directly, here is his original content for readers to feel: "Today, because of your actions, almost no one wants to identify as EVM L2 anymore. You delivered the worst product, and the entire community and ecosystem are filled with resentment towards you. Now it’s clear you’re just bored. I won’t comment on technical matters; that should be addressed by researchers. You have been 'hounding' me for several months, while I have remained quiet and respectful. Technical debates are one thing; I believe we can improve, but you have crossed the line. If you want to debate with Franck on Spaces, go ahead. Otherwise, please improve your own chain and stop making it look like a complete scam." He also added, "I have respect for some members of your team, but Scroll and you can be said to be among the worst participants in this field (at least 6 of your colleagues—half of whom have already left—specifically came to apologize to me for your actions)." "In the past two months, a quarter of your team has applied for our positions. There are many people I really like on your side, so I feel a bit guilty, but please don’t come at me with that high and mighty attitude, haha." Finally, Rushi said, "I am actively searching for 'Scroll scam' and learning more. @toghrulmaharram, don’t think about coming to trouble me, haha." The Controversy of Scroll Earlier this year, Starknet sparked outrage over the term "electronic beggar," and coincidentally, Scroll made the same mistake when its senior researcher Toghrul Maharramov directly referred to a user as an "electronic beggar" during a confrontation, even using malicious terms like fxxk in a post mocking users for seeking airdrops. On September 15, the Trump family's crypto project World Liberty Financial announced that Scroll co-founder Sandy Peng would become an advisor to the project, which the community viewed as an example of Scroll's adeptness at maintaining insider relationships. In October, Scroll became the first pre-market trading project on Binance and announced its tokenomics. However, this news sparked community skepticism, accusing Scroll of having too low airdrop quotas while Binance Launchpool's quota ratio was too high, clearly trying to curry favor with Binance. From the data, the total supply of SCR is 1 billion tokens, with an initial circulating supply of only 190 million tokens, accounting for 19% of the total. In the token distribution, airdrops account for only 15%, while ecosystem and growth account for 35%, and the Scroll DAO treasury accounts for 10%. Even for the 15% airdrop, only 2% was circulating at TGE, with the remaining portion needing to be gradually unlocked over four years. In contrast, Binance Launchpool allocated 5.5%, with a TGE circulation ratio of 2.5%, and the remaining 17% also unlocking over four years, making the initial circulation ratio of Launchpool far higher than that of the community airdrop. Additionally, the Scroll Foundation accounts for 10%, core contributors for 23%, and investors for 17%. The tokens of core contributors and investors only begin to unlock a year after TGE, but the proportions held by the ecosystem, Launchpool, and the Scroll Foundation in the initial circulation are relatively large. This distribution mechanism amplifies the holding weight of Binance and large institutions, while the community's interests are significantly compressed, deepening the community's doubts about Scroll's tokenomics design. The community used K-lines to show Scroll what it means to be unique, and even Scroll's project logo was ridiculed by the community. On one hand, Scroll is very adept at upward management, while on the other hand, community management appears to be overwhelmed. After the dispute between former team members and Rushi broke out, Movement clearly held the upper hand in public opinion. Community Perspective Leo Wong, founder of Movement's DEX WarpGate, stated that Toghrul's attacks not only lack technical basis but are also filled with malice. He accused Scroll of predatory behavior that is self-evident: internal sell-offs, exploitative token economic models, and community farming based on false promises. These actions not only tarnish Scroll's reputation but also undermine the concept of a fair blockchain ecosystem. "If Scroll truly has technical criticisms, please have your researchers and engineers present them respectfully. Resorting to personal attacks and public smear campaigns only highlights your lack of confidence in your own platform and practices. The blockchain industry relies on collaboration, transparency, and trust, not petty acts of revenge." Developer Andrew Capasso stated that Toghrul's redefinition of Scroll's criticisms as personal attacks is actually an evasion of responsibility for the team's collective behavior. He believes Toghrul is still entangled in the minutiae of words and has not realized that the real issue is Scroll's deliberate moral damage to the community. "This undermines your credibility, whether you like it or not. A sense of responsibility and integrity is more important than technical details. You are not an obscure developer but one of their most powerful PR warriors. Keep being stubborn, and Scroll's logo will be forever branded on you, haha." KOL Crypto Weituo stated, "Without making judgments about right or wrong, there are some takeaways from these two dialogues that I think everyone needs to know." The "halal era" of raising valuations and funding solely by aligning with certain ideologies is over. Please spend money on people who truly know how to communicate with retail communities; those who don't know how to speak should keep quiet. As a project party in the crypto space, you are wrong, and retail investors are right; do not compete with retail investors in research capabilities. It’s best to consider yourself a retail investor and spend some time playing with what they love most. Brainwash VCs, not yourself. Some also told Rushi that this is entirely a malicious debate, "Toghrul's technical comments have nothing to do with Scroll's poor community management. This is a great mobilization to get those who have been harmed to publicly support you, but you must recognize that this is not 'a good-natured public technical discussion.'" However, Rushi believes that his response post has nothing to do with technical issues but merely points out that Toghrul's attitude towards him and the Movement team is filled with malice and insult. "I have remained silent before because I can handle it myself, but I will not tolerate any insults and harm towards my team."
November 28 Key Market Information Gap, A Must-Read! | Alpha Morning Report
Top News 1.DeFi Sector Cryptocurrencies Surge, ENA Up by 22.06% in 24 Hours 2.Greeks.live Researcher: Current Options Market Indicates Higher Upside Potential for ETH 3.Pump Science: Focus on RIF and URO This Year, New Tokens to Launch Next Year 4.ETH/BTC Exchange Rate Continues to Rise, Up 18.42% from the Low Point 5.Sushi Launches Dojo Agent and Tweet Tokens Feature, Allowing Tokenization of Tweets or Creation of MEME Coins on Twitter Articles Threads 1.《Clash Between Two Major 'VC Coins,' Whose Side Should You Be On?》 shushu, BlockBeats The Ethereum ecosystem has just experienced a turnaround in the past two days, but the Ethereum community is not at peace. A feud has erupted between a former team member of the zkRollup project Scroll and the co-founder of Movement, which has just concluded its testnet and announced an airdrop. Scroll has accused Movement of code plagiarism, while Movement has claimed that the Scroll team's actions have damaged the Layer 2 ecosystem's reputation. Currently, official members of the Scroll team have not provided a formal response. 2.《ZKasino Refuses Refunds, Now Diverts Customer Funds for Crypto Trading Profits Exceeding $3 Million》 Lila, BlockBeats From on-chain data, ZKasino is not "unable to repay," but openly chooses to "profit from user assets." ZKasino's every move is squeezing the trust and assets of users, which completely deviates from the original intention of decentralization and transparency. The ZKasino team uses user funds to profit from high-risk operations but turns a deaf ear to the issue of returning funds to users, undoubtedly causing secondary harm to the victims. 24H Top Projects (‼️High Rug Risk‼️) Daily new projects or community focus updates, sorted and ranked by the number of X Alpha account followers and growth Data Source: getmoni.io BlockBeats Note: The following are early projects with few followers, extremely high Rug and contract risk. Participation should be cautious, and this is not investment advice. 1. Cookie DAO (@cookiedotfun) The first index for all AI proxies. Secure investment using data. 2. Agentstarter (@agentstarter) Virtual protocol AI proxy launchpad 3. VECTOR (@VECTORDOTFUN) APE MEMES and FRENS • Live on APPLE + GOOGLE PLAY stores. Market Data Daily market overall capital heat (reflected by funding rates) and token unlocks Data Source: Coinglass, TokenUnlocks Funding Rate Token Unlocks
Two Top "VC Coins" Engage in a Public Argument, Whose Side Should You Take?
The Ethereum ecosystem has just experienced a turnaround in the past two days, but the Ethereum community is not calm. A dispute has arisen between former members of the zkRollup project Scroll and the co-founders of Movement, who recently completed a testnet and announced an airdrop. Scroll has accused Movement of code plagiarism, while Movement has retaliated, claiming that the Scroll team's behavior has improperly damaged the Layer 2 ecosystem's reputation. Why Public Feud? The catalyst for the debate occurred in someone else's comment section. @enshriningplebs posted, "We invented the 'postconfirmations' concept to issue our token before going live on the mainnet." @seunlanlege jokingly replied, "Oh, so only Ethereum Foundation researchers invent some objectively meaningless garbage protocols is cool, right? Such a double standard." Movement Labs co-founder Rushi Manche then chimed in, saying, "Indeed, only Uniswap and Flashbots are allowed to do that because they align with Ethereum's interests (by the way, I love their architecture). As for the thousands of trendy terms we've created for those useless EVM L2s, that's much more ethical." Next, former Scroll team member Toghrul directly responded to Rushi's sarcastic remarks, saying, "Stop pretending to be all high and mighty, okay?" "Tell us about those trendy terms created by EVM L2," he argued. He believed that the new term "postconfirmations" essentially just renamed "preconfirmations," and this rebranding was only done because they were ridiculed for claiming to be a "fast finality Rollup." What's even more absurd is that they themselves couldn't even figure out if it was an Optimistic Rollup or a sidechain, as these two architectures are inherently contradictory. Toghrul mentioned that he raised these issues in group discussions, but the response he received was, "No one is using them, so they can't be considered innovative," which left him puzzled. He also mentioned that Movement's entire codebase is almost a slight variation from Aptos, with minimal changes. On the other hand, those so-called "useless EVM L2s" have produced many widely used core technologies, such as Polygon inventing Plonky2 and Arbitrum creating a Wasm-based general fraud proof, while Movement doesn't even seem to understand basic EVM support. Rushi showed no mercy either and directly said, "High and mighty? Are you kidding?" Then he began listing Scroll's offenses one by one. 1. Utilizing the community for years, yet launching a predatory incentive plan that ultimately shifted the burden to ordinary investors. 2. The team continuously sold secondary market shares during the years leading up to the launch. 3. Other team members were forced to buy in at a $1.8 billion valuation while top leadership was selling off at the same time. 4. You even directly airdropped tokens to your own wallet for cashing out. 5. Designed the most predatory tokenomics to ensure harm to every community member. To directly convey Rushi's anger, here is his original text for readers to feel: "Today, because of your actions, almost no one is willing to consider themselves an EVM L2 anymore. You delivered the worst product; the entire community and ecosystem resent you, and now obviously, you are at a loose end. I won't comment on technical matters; those should be addressed by researchers. You have been aggressively pursuing me for months, and I have always remained quiet and respectful. Technical debates are one thing; I believe we can improve, but you have crossed the line. If you want to debate with Franck on Spaces, go ahead. Otherwise, improve your own chain and stop making it look like an outright scam." He also added, "I have respect for certain members of your team, but Scroll and you could be said to be one of the worst participants in this field (even at least 6 of your colleagues—half of whom have already resigned—came specifically to apologize to me and feel ashamed of your actions)." "In the past two months, a quarter of your team has applied for our positions. There are many people on your side that I like, so I feel a little guilty, but please don't bring up the term 'high and mighty' with me, haha." Finally, Rushi concluded with, "I am actively searching for 'Scroll scam' and delving deeper to learn more. @toghrulmaharram, don't even think about coming to bother me, haha." In response to Rushi's accusations, Scroll's co-founder Sandy made several statements in a post today, including: 1. Acknowledging the poorly designed airdrop and its harm to a part of the community, which will be rectified through Session 2; 2. The team wallet did not claim the airdrop. In the future, to avoid confusion, the points related to that wallet will be removed; 3. The team never forced team members to subscribe to the token at the last-round valuation; 4. The team is restructuring to adapt to the next stage of development, and some team members will resign. We believe they will shine in their new positions. Scroll Controversy Overview Earlier this year, Starknet sparked outrage due to the term "E-waste." Similarly, Scroll made the same mistake, with its Senior Researcher, Toghrul Maharramov, directly referring to a user as an "E-waste" during an altercation, and even mocking users in posts using malicious language like "fxxk" when seeking airdrops. On September 15, the Trump family-affiliated crypto project World Liberty Financial announced that Scroll's co-founder, Sandy Peng, had become an advisor to the project. This move was seen by the community as an example of the Scroll team's adeptness at maintaining insider relationships. In October, Scroll became Binance's first pre-trading project and revealed its tokenomics. However, this news raised community doubts, accusing Scroll of having a low airdrop allocation while Binance Launchpool's allocation was too high, clearly an attempt to please Binance. From the data perspective, SCR has a total supply of 1 billion tokens, with an initial circulation of only 190 million tokens, accounting for 19% of the total. In the token distribution, airdrops account for only 15%, while ecosystem and growth account for 35%, and the Scroll DAO Treasury accounts for 10%. Even within the 15% allocated for airdrops, only 2% were in circulation at TGE, with the remainder gradually unlocking over four years. In contrast, Binance Launchpool allocated 5.5%, with 2.5% already in circulation at TGE. The remaining 17% also unlock over four years, resulting in Launchpool having a significantly higher initial circulation percentage than community airdrops. Furthermore, the Scroll Foundation holds 10%, core contributors hold 23%, and investors hold 17%. The tokens for core contributors and investors start unlocking a year after TGE, but the ecosystem, Launchpool, and Scroll Foundation hold a significant percentage in the initial circulation. This allocation mechanism amplifies the holdings of Binance and large institutions, significantly reducing community interests and deepening the community's doubts about Scroll's tokenomics design. The community used candlestick charts to show Scroll what uniqueness really means, even Scroll's project logo was ridiculed by the community. Scroll excels in top-down management on the one hand, but community management seems inadequate. After the controversy between former team members and Rushi broke out, from a community perspective, Movement clearly has the upper hand in public opinion. Community Perception Leo Wong, the founder of Movement's WarpGate DEX, stated that Toghrul's attack lacked not only technical basis but also was filled with malice. He accused Scroll of its predatory behavior being evident when criticizing Movement's terms or architecture: internal dumping, exploitative tokenomics, and a community farm based on false promises. These actions not only tarnished Scroll's reputation but also stained the idea of a fair blockchain ecosystem. "If Scroll has genuine technical criticism, please let your researchers and engineers present it in a respectful manner. Resorting to personal attacks and public defamation will only highlight your lack of confidence in your own platform and practices. The blockchain industry relies on collaboration, transparency, and trust, not this kind of petty retaliatory behavior." Developer Andrew Capasso mentioned that reshaping Scroll's criticism as a personal attack by Toghrul was actually an attempt to evade responsibility for the team's collective behavior. He believes Toghrul is too caught up in semantics and fails to realize that the real issue is the moral harm intentionally caused by Scroll to the community. "Whether you like it or not, this undermines your credibility. Accountability and integrity are more important than technical details. You are not just an unknown developer but one of their most powerful PR warriors. Keep digging in, and Scroll's logo will be permanently stamped on you, haha." Crypto influencer 加密韋馱 stated, "I won't make judgments of right or wrong, but there are some takeaways from these two dialogues that I think everyone needs to know." 1. The 'halal era' where valuation was pumped with just aligning with some ideology is over. 2. Please spend money on people who truly know how to engage with the retail community. People who don't know how to speak should keep quiet. 3. As a project in the crypto world, you are wrong, and retail investors are right. Don't compete with retail investors in terms of research and investment capabilities. 4. It's best to also consider yourself a retail investor, spend some time playing with their favorite things 5. Brainwash VCs, but don't brainwash yourself Some people also told Rushi that this is completely malicious argumentation, "Toghrul's technical critique has nothing to do with Scroll's poor community management. This is a very good mobilization, allowing those who have been victimized to openly support you, but you must realize that this is not 'good-faith public technical discussion'." However, Rushi believes that his response post is unrelated to technical issues, only pointing out that Toghrul's attitude towards him and the Movement team is full of malice and insults. "I have always remained silent before because I can handle it myself, but I will never tolerate any insult or harm to my team."
Vanilla Finance Closes Pre-Seed Round Led by ABCDE Labs
Vanilla Finance has announced the closing of a Pre-Seed round led by Paper Ventures, UOB Ventures and ABCDE Labs, with participation from HTX Ventures, Ocular, Openspace, Y2 Ventures, Signum Capital and angel investors from STEPN, Scroll and others. HTX Ventures, Ocular, Openspace, Y2 Ventures, Signum Capital, and angel investors from STEPN, Scroll, and others.
The total locked-in value of Ethereum's Layer2 network is 43.9 billion US dollars, up 3.76% in the last seven days
According to L2BEAT data, the total locked value in Ethereum's Layer2 network is currently 43.9 billion US dollars, an increase of 3.76% over the past seven days. The top five are: Arbitrum One (16 billion US dollars, up 4.75% in seven days); Base (10.22 billion US dollars, up 12.1% in seven days); OP Mainnet (6.73 billion US dollars, up 3.43% in seven days); Blast (1.45 billion US dollars, down 6.59% in seven days); Scroll (986 million US dollars, down 14% in seven days).
Today's Must-Read | Twitter Featured Views [November 11th]
1.Rui: $BONK will start a new round of growth $BONK has just broken through the huge triangle consolidation range of the past year. If the pullback is confirmed, this will be an opportunity worth bold layout. Rui believes that BONK's next step will be quite radical, especially with the accumulation of the following catalytic factors, it will stand out among the many meme coins: 1. Robinhood and Webull listing rumors are approaching, which will unlock the liquidity of US retail investors 2. The only memecoin with ETP 3. Coinbase's only new memecoin 4. BonkBot's strong repurchase/destruction pressure 5. Upbit USDT trading pair has been launched, and Korean Won (KWR) trading pair will be launched soon, which may stimulate the enthusiasm of the Korean market These catalysts make BONK undeniable. Soon you may see discussions of "Bonk Guy" again on the timeline. See the original text: https://x.com/YeruiZhang/status/1855793542758814015 2.Shelby: $FLOKI's Continuously Strong OG Meme $FLOKI is one of the few remaining OG memes, following $DOGE and $SHIB. The difference is that Floki is actually practical and has built a huge ecosystem in the past three years. This is also the reason why I don't easily chase after random rises - I prefer #memecoins that survive in bear markets and have fundamental support, especially #Floki. See the original text: https://x.com/CryptoNewton/status/1855584946959552886 3.WIZZ: Optimistic about $DOGE surpassing mainstream coins DOGE may surpass all mainstream coins in the next few weeks or months. Everything is ready. -Elon Musk concept Department of Government Efficiency (D.O.G.E) Narrative -X payment potential benefits Heavily optimistic about this opportunity. See the original text: https://x.com/CryptoWizardd/status/1855699751746117975 4.XO: Analysis of $WIF Trading Strategy XO proposed two possible transaction scenarios for $WIF: Breaking through the median line: If the price breaks through the median line, it will force the bearish position to squaring, further pushing up the price. Brief pullback: The bears received brief relief, and the price continued to rise after a slight pullback. XO said that regardless of the scenario, he maintains a bullish positioning and will continue to hold. See the original text: https://x.com/Trader_XO/status/1855659947381379460 5.Rui: The Awkward Positioning of SCR and Its Relationship with Trump Scr is an awkward existence in Trump's target, with several key points: 1. SCR is supported by Polychain and is also the largest supporter of Trump's WLFI project. Among the three major crypto funds in the US, only Polychain explicitly supports Trump, and even once worked at Mar-a-Lago. 2. It is speculated that Polychain's position cost is in the range of 7-900 million dollars, and the position ratio is close to or even more than 10%. 3. The essence of WLFI is to raise campaign funds for Trump. Based on non-public data, in the last 20 days of the campaign, Trump's funds were in crisis, but he could not directly and quickly obtain political contributions from the US people. Therefore, he opened an overseas fundraising channel through Polychain and SCR, which was a "timely help" move. 4. If SCR is a US project, the dividends obtained may be greater. See the original text: https://x.com/YeruiZhang/status/1855793542758814015 6.Hitesh.eth: The impact of the launch of the application chain on investors As decentralized applications gradually transform into independent application chains, investors can obtain more value from them. ENS is becoming Namechain Uniswap is becoming Unichain MakerDAO will launch Makerchain Aave will launch Aavechain Trading viewpoint: Enhance the practicality of tokens: The launch of the application chain has added new uses to the original application tokens (such as ENS, UNI, MKR, AAVE), such as staking and using them as on-chain gas fees. Inflationary incentives: Many application chains may introduce new token supply to incentivize ecological growth, which will bring annual inflation of tokens, but also provide additional incentives for holders. Token value increase: The new uses and growth catalysts brought by the application chain help to increase the market attention and demand for tokens, expand community support, and thus drive up token prices. For investors, the launch of the application chain is not only an opportunity for value capture, but also a powerful catalyst for price growth. See the original text: https://x.com/hmalviya9/status/1855832167705919677 7.Chen Jian Jason: BounceBit V2 version launched, observation of the transformation of BTC ecological asset management projects BounceBit's V2 version was officially launched today. Chen Jian Jason pointed out that this is a public Alpha test, and the launch time and content were announced in the document half a month ago. The current price has risen from the previous low of 0.23 to 0.35, and the structure is still relatively healthy. Jason believes that investors who hold a large amount of $BB or open contracts should closely monitor this trend and pay attention to latent risks. Trading viewpoint: BounceBit is one of the early projects in the BTC ecosystem, but it has gradually weakened the BTC label and focused on multi-chain asset management such as ETH, Sol, and Sui. This transformation reflects the team's response to the "source of income" problem faced by BTC staking projects. The V2 version introduces the concept of CeDeFi, which not only provides on-chain staking income, but also adds a quantitative arbitrage income model. These assets are held under compliance agencies Mainnet Digital and Ceffu, further enhancing security. The newly added CeDeFi SaaS and BounceClub features, including user-defined AI Agents and PumpFun Meme launcher, bring more application scenarios to $BB and further consolidate its positioning as an asset management platform. Overall view: Chen Jian Jason emphasized that the BounceBit team has strong execution and has been active in product iteration. The team obtains profits through real TVL liquidity, avoiding simple TVL lifting strategies, which has positive significance for the long-term stability of the asset management platform. The current FDV is 700 million, the circulation is 160 million, and the next unlock will be in May next year. There will be no new coins released in the next six months. Investors can evaluate their holding strategies from a long-term perspective. See the original text: https://x.com/jason_chen998/status/1855813095375135215
Christian2022.eth: Sold all EIGEN and bought some SCR
Christian2022.eth posted on X platform, stating that they have sold all their holdings of EIGEN and bought some SCR, despite most people feeling uneasy.
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